Construction Taahhut A.S. Dere Buys 10,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 10,000 shares of TPI Composites stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $12,500.00. Following the completion of the transaction, the insider now directly owns 4,407,232 shares in the company, valued at $5,509,040. This trade represents a 0.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Construction Taahhut A.S. Dere also recently made the following trade(s):

• On Monday, February 24th, Construction Taahhut A.S. Dere acquired 80,000 shares of TPI Composites stock. The stock was purchased at an average cost of $1.52 per share, for a total transaction of $121,600.00.
• On Thursday, February 20th, Construction Taahhut A.S. Dere acquired 66,000 shares of TPI Composites stock. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $95,040.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere acquired 49,000 shares of TPI Composites stock. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $77,910.00.

TPI Composites Stock Performance

NASDAQ TPIC opened at $1.13 on Friday. The firm’s 50 day moving average price is $1.55 and its 200-day moving average price is $2.69. TPI Composites, Inc. has a 52-week low of $1.01 and a 52-week high of $5.75. The company has a market cap of $53.80 million, a PE ratio of -0.22 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. On average, analysts forecast that TPI Composites, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley reissued an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Bank of America reduced their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. UBS Group reduced their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.83.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Global Management LLC bought a new position in shares of TPI Composites during the fourth quarter valued at approximately $38,000. Squarepoint Ops LLC boosted its stake in TPI Composites by 469.2% in the fourth quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 49,263 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in TPI Composites in the fourth quarter valued at approximately $105,000. Deutsche Bank AG boosted its stake in TPI Composites by 39.0% in the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 50,422 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in TPI Composites by 1.0% in the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after acquiring an additional 10,611 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.